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Updated over 5 years ago,
Advice needed for funding multiple BRRRR projects at once?
First, thank you to anyone who takes the time to respond to this post.
I have been planning to perform a BRRRR on a single property using my personal cash for the purchase and rehab costs. However, I came across a lead where an investor needs to sell 5 properties at once (4 SFRs and 1 duplex) to 1031 into another deal. Assuming the information I have been given is accurate and truthful, the properties are all selling with tenants still in the properties. The following are the property details:
1. Duplex selling for 55K currently renting at $940 total
2. SFR 3/1 68.5K currently renting at $775
3. SFR 3/1 57.5K currently renting at $750
4. SFR 2/1 47.5K currently renting at $600
5. SFR 4/2 59K currently renting at $795
What is the best way to finance this deal in order to retain my capital once I have the properties rehabbed and stabilized? Are there any blanket loans that could work for this scenario? I should have enough capital to put 25% down. But like I said, I would like to pull the capital back out somehow once the properties are rehabbed and stabilized. I am not sure if it is possible, but I would be super grateful to anyone willing to offer advice.
I am not very interested in hard money. My original plan is to do one BRRRR investment and then show that the model works to potential private money investors. This way I could use private money for future deals and scale.
Thanks in advance!